The deadline to submit the application is approaching. annual statement 2023 before him Service tax administration (SAT), so you have not done it, the best thing is to get up to date and carry out this tax obligation.
There are occasions when the SAT could give you back taxes; You will know this once you file your return, since the platform allows you to carry out the process automatically.
According to the SAT portal, the return of the balance in favor takes more or less 45 business days. If you want to monitor the status of your procedure, we will tell you how you can do it.
So you can check the status of your tax refund
What you should know is that the SAT has three statuses for those who will have a credit balance refund:
- In validation process.
- paid.
- rejected.
This is the route that you must follow within the SAT portal to check how your tax refund is going:
- Within the website go to ‘returns and compensation’, then select ‘monitoring procedures and requirements’.
- Choose exercise 2022 and you will be able to see if your application was approved and even already paid. You can also check this on your bank statement.
Annual return for individuals: What personal deductions does the SAT accept?
According to the SAT, personal deductions are based on article 151 of the Income Tax Law (LISR).
Said section indicates that the deductions are the expenses that as a taxpayer you have the right to reduce from your cumulative income in the Annual Declaration of the corresponding year.
What personal deductions does the SAT admit?
Personal deductions are:
Health:
- Medical, dental and professional services fees in psychology and nutrition. (They are deductible if they are provided by people with a professional title legally issued and registered by the competent educational authorities)
- Hospital expenses and medicines included in hospital bills. (Pharmacy vouchers are not applicable)
- Fees to nurses
- Analysis, clinical studies
- Purchase or rental of devices for the recovery or rehabilitation of the patient
- Prosthesis
- Purchase of graduated optical lenses to correct visual effects
- Premiums for medical expenses insurance, complementary or independent of health services provided by public social security institutions.
- Health expenses will be deductible as long as they have been made for you, your spouse or common-law partner, your parents, grandparents, children and grandchildren.
Education:
- School transport, only if it is obligatory.
- Tuition fees in private educational institutions with official validation of studies. From preschool level to high school or equivalent, for the following amounts (annual deduction limit):
– Preschool: 14 thousand 200 pesos.
– Primary: 12 thousand 900 pesos.
– Secondary: 19 thousand 900 pesos.
– Technical professional: 17 thousand 100 pesos.
– High school or its equivalent: 24 thousand 500 pesos.
To make this benefit effective, you need to have the corresponding proof of payment.
When you make payments in the same fiscal year, for the same person, for education services corresponding to two educational levels, the annual deduction limit that you can reduce is the one that corresponds to the greater amount of the two levels, regardless of whether it is the level that finished or the one that started. Registration or re-registration fees cannot be deductible.
It may interest you: SAT 2023: Learn about the new requirement to present your annual declaration
Others:
- Funeral expenses for your spouse or common-law spouse, as well as for your parents, grandparents, children and grandchildren, you can pay them with any means of payment and you must have the invoice.
- Real interest accrued and effectively paid for mortgage loans, destined for your home, contracted with the financial system, INFONAVIT or FOVISSSTE, among others, and provided that the credit granted does not exceed seven hundred and fifty thousand investment units.
- Donations granted to institutions authorized to receive donations. (The amount of the donations will not exceed 7 percent of the cumulative income that served as the basis for calculating the income tax of the previous year).
- Complementary retirement contributions made in the voluntary contributions sub-account of your personal retirement plans (Afore).
- The payment of local taxes for wages, whose rate does not exceed 5 percent.
Follow us on Google news, Facebook and Twitter to keep you informed with today’s news!
